On screen version
The Aged reports show you the balances outstanding against your Customers and Suppliers. At a glance you can see how long the balance has been outstanding with the ability to see the transactions that make up that balance. From there you can plan for requesting or making payments, recording payment agreements/notes against the open Invoices so they can be tracked by you.
The reports only have a Date To setting, this will include all transactions posted upto and including that date even if they have since been paid as the balance will be shown as Zero. All other Invoices not yet paid will show with a balance in the ageing column 30, 60, 90 days etc. Both reports can be exported to Excel to analyse further and exported to PDF from the Finance Dashboard.
As an example, if the Date To is entered as Today’s date then the following logic applies:
0-30 – all Open transactions with a Due date up to 30 days from today
31-60 – all Open transactions with a Due date older than 30 days from today’s date upto and including 60 days old
61-90 - all Open transactions with a Due date older than 61 days from today’s date upto and including 90 days old
90+ - all Open transactions with a Due date over 90 days from today’s date
The Aged Receivables shows the balances outstanding of Open transactions against each of your Customers. Open transactions can include Sales Invoices and Sales Credit notes, unreconciled payment balances and any manual journals to a Customer with a balance outstanding.
It is more than just a report in that it allows you to record payment commitments from your customer which you can then email your customer with and export to excel so that you have a record of it at that time. This is a great tool for credit control.
To run the report, enter a Date to see the results
You can click onto any row to see the transactions linked to a Customer Balance
When the list of transactions for the customer are on screen you can search for Invoices, sort the columns, or filter on any of the columns
You can select Invoices that the customer has agreed to Pay which will add them to the Committed Amount total at the bottom of screen, the tick box appears at the start of the row for each transaction. This will help with your Credit Control when contacting your customer looking for Payment.
If you need to check Invoice details, you can click into the Document no. which will take you to the Invoice details screen in Sales
Save committed – by clicking on this you save the amount which is total of the transactions you have selected for the Customer to agree to pay, this is for your records on the Aged report
After clicking on Save committed the main Aged Receivables report is refreshed and it puts that same amount into the Committed column on the main report screen. From here you can click on Edit to manually select a Payment date that you have agreed with your customer. You can remove the Committed value and Payment date at any time or change as required.
You can Export to Excel so that you have a record of the report with any committed amounts/payment date at this time.
The Aged Creditors shows the balances of Open transactions that you owe your Suppliers. Open transactions can include Purchase Invoices and Purchase Credit notes, unreconciled payment balances and any manual journals to a Supplier with a balance outstanding.
You can do the same actions as the Aged Receivables report with drilling into your Supplier transactions from the report, selecting Invoices you are committing to pay, adding in an agreed Payment date for your records and exporting to Excel.
PDF version in Dashboard
The Aged reports generated through the Dashboard can be based on different criteria, see below for explanations.
Aged Debtors report – this is the same as your Aged Receivables report giving you the outstanding balance for each of your Customers based on Open transactions.
Date From – you can enter dates for example to see a specific month or previous year/month range
Show reconciled – the report defaults to showing transactions that are only open, however if you tick this box it will include any transactions that were paid/reconciled in that period
Aging Type – this defaults to Due Date which means it looks at the Due date to calculate the ageing on the report same as the Aged Receivables report. Whereas if you select Posting Date this will be used to calculate the Ageing of the transactions.
For any of the above options to work you will need to click on the Filter button to generate your report.